FXstreet.com (Barcelona) - After falls to the 96.33, today's minimum, the USD/JPY has risen 75 pips to the 97.08 level just before the US opening bell. Along the European session, the USD/JPY has been moving between the 97.20/96.35 in a consolidation movement after yesterday's rally.
Currently, the USD/JPY is trading around the 97.00 level in a new attempt to break the 97.30 resistance.
According to Mataf.net Team, The USD/JPY should find a support at 96.40 and, then, go up to the 99.00 level: USD/JPY is in an uptrend supported by 1H exponential moving averages. USD JPY is in a consolidation after the last bullish movement. The volatility is low. Bollinger bands are flat. ForexTrend 4H (Mataf Trend Indicator) is in a bullish configuration. 4H ForexSto (Modified Stochastic) indicate a bullish pressure on USD/JPY. The price should find a support above 96,40 (44 pips). The uptrend should continue on 99,00 resistance (216 pips).